Art in the Digital World

By Blaire Townshend

Earlier today, Conrad De Aenlle of the New York Times wrote an article examining the relationship between major art auction houses and the digital marketplace. Essentially, he commented on the fact that these auction houses have enjoyed a remarkably stable, non-digital market for centuries, and that the recent emergence and astounding successes of such markets is forcing a change in the structure of the auction world. Companies such as Sotheby’s and Christie’s, who have dominated the market for so long, are among the companies that are feeling the pressure to adapt to the digital world surrounding them. In fact, they are not only being forced to adapt, but are also looking for inspiration in the “deft and nimble upstarts” that are better able to embrace the digital market (De Aenlle).

With online art sales totaling $3.6 billion in 2014 and a predicted sales growth of 25% per year, it is not surprising that even the major auction houses want in on the action. In 2011, Christie’s implemented an exclusively online auction platform, while simultaneously purchasing Collectrium—a digital art collection management service. Sotheby’s, on the other hand, has begun streaming its auctions live on eBay. These actions betray a desire on the part of both companies to woo a previously untapped online customer base. David Goodman, executive vice president for digital development and marketing, adds that such practices cater to current customers, as well: “We want to create more channels and more ways for our collectors to be able to engage in and buy things that they love” (De Aenlle).

De Aenlle’s article points to an important shift in the auction world—a shift that might presage a certain democratization of the art market. After all, if auction houses are catering to an increasingly varied and online customer base, they are arguably catering to customers with more variable incomes by doing so. The next test will be to see which auction houses embrace the digital art market most organically, and to assess how this affects their business.

De Aenlle, Conrad. "Sotheby's and Christie's Adapt to Digital Age." International Arts. The New York Times, 11 Mar. 2016. Web. 11 Mar. 2016.